CM launches Rs 1,053 crore annual credit plan

PUDUCHERRY: Chief Minister N Rangasamy released the Union Territory’s Annual Credit Plan (ACP) for 2011-12 bearing a total outlay of Rs 1,053 crore on Wednesday, targeted to benefit 1.84 lakh persons of the Union Territory of Puducherry.Released in the presence of T M Bhasin, chairman and managing director, Indian Bank, the credit disbursement plan represents an increase of 31 per cent over the 2010-11 plan. As per the plan finalised at the state level bankers’ meeting on June 1, 43 per cent of the total outlay amounting to Rs 452 crore has been earmarked  for the agriculture sector, with the share of the non-farm sector being 21 per cent with an outlay of  Rs 221 crore and the share of the services sector being 36 per cent with a Rs 380-crore outlay.In the service sector, housing loan has been allotted Rs 112.99 crore with Rs 74.97 crore towards educational loan, while in the non-farm sector Rs 85.89 crore has been earmarked for the small scale sector, Rs 29.67 crore for the tiny sector and Rs 21.31 crore for artisans. In the agricultural sector, the crop loan amounts to Rs 381.62 crore with Rs 70 crore being fixed for term loan. Necessary allocation has been made to support the 3,998 beneficiaries under various government-sponsored programmes.Bhasin appreciated all the bankers for achieving the targets set under the Annual Credit Plan for 2010-11, by disbursing loans under the priority sector to the tune of Rs 875.37 crore. The banks in the Union Territory have successfully provided access to banking services to all the 43 villages with population above 2,000 under the financial inclusion plan within March 2011 itself, much ahead of the time limit of March 2012, as stipulated by the government of India and the Reserve Bank of India.  He also made an appeal to the bankers to provide similar banking services to the allotted 23 villages with a population of 2,000 and below during the current financial year at the earliest so that the UT would become the forerunner in the country, having extended access to banking services to all the village households.During the occasion, cash awards were presented on behalf of the Indian Bank to the top rankers belonging to the backward community and scheduled castes in the recent standard XII examination in the Union Territory of Puducherry. A total of seven students received a cash award of Rs 5,000 each.D A Ulagan, general manager, Indian Bank, Puducherry zone, presented the highlights of the Annual Credit Plan 2011-12. Banks in the Union Territory of Puducherry have prepared the credit disbursement plan for 2011-12 on the basis of the past trend, future potential and the potential-linked credit plan of NABARD.Raajiv Yaduvanshi, secretary (finance), government of Puducherry, K R Meena, secretary (revenue),  Hage Kojeen, secretary (agriculture), N S Viswanathan, regional director, RBI, Chennai, and Sahoo, general manager, NABARD, Chennai, participated in the meeting, besides a host of bankers and senior officials from various departments of the Union Territory of Puducherry.